Hey, a bonus post this week! Yesterday when I wrote about what we have coming down the road in terms of REO's, I mentioned that one of the big drivers of foreclosures over the next few years could be strategic defaults. And I said that I'd cover that topic sometime soon. Well, it's sooner than I thought.
If you read this blog regularly, you'll know that I don't usually link to outside sources. But today I came across this article talking about the consequences of strategic defaults, and it pretty much says what I was going to tell you. So rather than applying my usual tortured prose to the topic, I'll just let the professional journalists cover it.
'Nuff said.
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